Vaxil Announces Close of Previously Announced Non-Brokered Private Placement and Update on Board of Directors

Core Viewpoint - Vaxil Bio Ltd. has successfully completed a non-brokered private placement, raising gross proceeds of $140,000, which will be used to explore strategic options beyond the healthcare sector to maximize shareholder value [2][4]. Group 1: Private Placement Details - The private placement involved the subscription of 1,244,441 units at a price of $0.1125 per unit, with each unit consisting of one common share and one warrant [2]. - Each warrant is exercisable at an exercise price of $0.15 per warrant share until December 2, 2030 [2]. - The company compensated finders with fees totaling $11,200 and issued 99,555 finders' warrants with terms identical to the warrants issued in the private placement [3]. Group 2: Management Changes - Mr. Ari Kellen and Mr. Shawn Langer have resigned from the Board of Directors, effective immediately [4]. - Mr. Simon Igelman has been appointed to the Board, bringing expertise in corporate finance and mergers and acquisitions [4][5]. - The Chairman of Vaxil expressed gratitude to the departing directors and welcomed Mr. Igelman, indicating a focus on pursuing new strategic opportunities [6]. Group 3: Company Background - Vaxil was previously focused on immunotherapy, particularly its lead product ImMucin™, which received orphan drug status from the FDA and EMA [7]. - The company is currently evaluating opportunities outside the biotechnology sector to enhance shareholder value [4][7].